How does customer co-creation affect firm’s brand image and customer’s willingness to pay a price premium?

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LI, Yingnan (2015) How does customer co-creation affect firm’s brand image and customer’s willingness to pay a price premium? [Dissertation (University of Nottingham only)]

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Abstract

This study is aimed to investigate whether brand image and customer willingness to pay a

premium can be affected by co-creation. Co-creation now has been a crucial part in firm‟s

new product or service development process and a major factor of firm‟s competitive

advantage. However, regarding the correlations between co-creation, brand image and

willingness to pay a premium, most previous studies focused on co-creation effects on

service-intensive industries, whereas the effects on new product development receive less

attention. This study focuses on analysing the effects of co-creation on new product

development rather than services.

282 respondents are involved in this study. They are tested purely by questionnaires.

Co-creation is tested based on two measurements: „the degree of co-creation‟ and „satisfaction

with co-creation experience‟. The results of this study show that: (1) The degree of

co-creation is positively related to brand image. (2) Consumer satisfaction with co-creation

experience is positively related to brand image. (3) The degree of co-creation is positively

related to consumer WTP a price premium. (4) Consumer satisfaction with co-creation

experience is positively related to their WTP a price premium.

Further analysis based on each questionnaire items concludes several implications for

managers. (1) Companies should identity deficient products and identify potential talented

co-creators. (2) Companies should pay more attention for co-creation support. (3) Companies

should maintain a stable relationship with consumers. (4) Companies should recognize

different kinds of motivation system in order to establish the most suitable strategy for

customer co-creation. (5) Companies should invest more in signalling activities, customize

co-creation services and communications.

Item Type: Dissertation (University of Nottingham only)
Depositing User: LI, Yingnan
Date Deposited: 23 Mar 2016 15:12
Last Modified: 19 Oct 2017 14:57
URI: https://eprints.nottingham.ac.uk/id/eprint/30014

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